The government posted a budget surplus of P4.9 billion in April, a reversal of the P44.4-billion deficit a year ago, as revenue collections grew 19.2 percent and expenditures rose 2 percent, data from the Bureau of the Treasury show.
The latest data reduced the four-month budget deficit to P311.9 billion, lower by 14.8 percent or P54.0 billion than the shortfall of P365.9 billion a year ago.
Data showed government revenues reached P348.0 billion in April, up 19.2 percent or P56.0 billion from a year ago as all government collecting agencies exhibited positive outturns.
Revenue collections went up 14.6 percent in the first four months to P1.132 trillion from the P988 billion a year earlier. Tax collections comprised 89 percent or P1.004 trillion of the total, while non-tax sources accounted for the remaining 11 percent.
Gross collections by the Bureau of Internal Revenue amounted to P240 in April, from which P413.0 million in tax refunds left a final net collection of P239.6 billion, representing a 9.39-percent improvement from last year’s outturn.
Cumulative collection also rose 7.8 percent to P742.4 billion in the first four months of 2021.
The Bureau of Customs maintained its growth momentum for the fourth consecutive month with P65.7 billion collections in April, up 26.8 percent or P13.9 billion over a year ago.
“The higher collection was attributed to the improved valuation, intensified enforcement against illegal importations and the improved compliance by traders to customs laws. This pushed the agency’s aggregate revenue to P254.2 billion, outperforming the achievement for the same period a year ago by 26.50 percent or P53.3 billion,” the Treasury said.
The P25.7-billion income generated and collected by the Bureau of the Treasury in April was more than double last year’s level of P9.0 billion.
“The substantial increase was largely driven by higher dividend remittances as well as income from BSF investment and national government’s share from PAGCOR income,” the Treasury said.
BTr’s cumulative revenue of P74.4 billion in the four-month period represented a double-digit growth of 53.85 percent or P26.1 billion over P48.4 billion raised a year ago.
Collections from other offices, mainly non-tax revenues including privatization proceeds and fees and charges, reached P15.4 billion in April, surpassing last year’s outturn of P11.2 billion by 37.53 percent or P4.2 billion mainly due to the Bases Conversion and Development Authority’s higher remittance of disposition proceeds amounting to P6.4 billion.
Meanwhile, government disbursements reached P343.0 billion in April, slightly higher by 1.98 percent or P6.7 billion year-on-year. This resulted in total expenditures of P1.444 trillion in the four-month period, a 6.64-percent or P89.9-billion expansion from the previous year’s P1.354 trillion.
The government posted a primary surplus of P42.2 billion in April and primary deficit of P125.3 billion in the first four months.